Selvi & Ertekin

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Financial distress and board of directors' liabilities

March 22 2019 Pursuant to Article 376/3 of the Commercial Code, where there are signs that a company is in financial distress, its Board of Directors should prepare…

Amendments to decree protecting value of Turkish currency in relation to foreign currency loans

November 16 2018 The Council of Ministers recently amended Decree 32 on the Protection of the Value of Turkish Currency. The amending decree introduced strict…

Attachment of debts arising from letters of guarantee

June 19 2020 Letters of guarantee are an instrument under which a bank guarantees the payment of a certain amount to a beneficiary on request if an obligation…

Communique on compliance with principles and standards of interest-free banking

January 10 2020 The Communique on Compliance with Principles and Standards of Interest-Free Banking entered into force in September 2019. The communique aims to…

Representation by proxy in suretyship agreements

June 7 2019 Suretyships are a kind of security commonly used in loan transactions which provide personal security to lenders if a borrower fails to fulfil its…

Attachment of debts arising from letters of guarantee

June 19 2020 Letters of guarantee are an instrument under which a bank guarantees the payment of a certain amount to a beneficiary on request if an obligation…

Communique on banking fees and commissions published

April 3 2020 The Communique on Procedures and Principles Regarding Fees to be Collected from Commercial Customers by Banks was published on 10 February 2020. The…

Communique on compliance with principles and standards of interest-free banking

January 10 2020 The Communique on Compliance with Principles and Standards of Interest-Free Banking entered into force in September 2019. The communique aims to…

Representation by proxy in suretyship agreements

June 7 2019 Suretyships are a kind of security commonly used in loan transactions which provide personal security to lenders if a borrower fails to fulfil its…

Financial distress and board of directors' liabilities

March 22 2019 Pursuant to Article 376/3 of the Commercial Code, where there are signs that a company is in financial distress, its Board of Directors should prepare…